News
Amwins reveals three-part MGA structure
Amwins Global Risks has reorganised its underwriting operations into three entities, including UK-based managing general agent Unicorn Underwriting.
MGA takes another Axa leader with CUO hire
Optio Group has appointed the former Axa director of schemes and delegated authorities Gary Head as chief underwriting officer, effective immediately.
Howden and Aviva join up on renewable energy
Howden’s power and renewable energy team has launched a UK quote and bind platform.
MGAA unveils 2025 strategic vision
The Managing General Agents’ Association has set out it strategic vision and mission for 2025, focusing on education, amplifying its value to members, and data-driven insights.
Rokstone recruits Winsley from Howden as broker relationship boss
Managing general agent Rokstone has recruited Rob Winsley from Howden to take up the newly created role of capacity manager and broker relationship director.
6% of FCA financial promotions cases caused by GI & Protection
The Financial Conduct Authority has revealed the general insurance and protection sector accounted for 6% of its workload in the final quarter of last year against firms breaching financial promotion rules.
Gallagher settles 2020 data breach class action suit for $21m – AM Best report
Arthur J. Gallagher has agreed to a $21m (£16.93m) settlement to a class action lawsuit in the US after a data breach in 2020, AM Best has reported.
Weather-related domestic damage cost insurers £585m in 2024, says ABI
The Association of British Insurers has calculated insurers paid out a record £585m for weather related damage to people’s home and possessions in 2024.
Flood Re calls on government for £1bn flood defence spending
Flood Re has urged the government to spend at least £1bn a year to keep pace with changing climate risks and ensure the protection of homes and businesses in the UK from the devastation flooding brings.
Grove & Dean grows revenue and profits in “challenging” year
Niche motor specialist Grove & Dean grew turnover by 2.4% to £18.03m in the year ended 30 May 2024 with the broker’s profits rising faster.
FCA actions against misleading financial adverts nearly doubles in 2024
The Financial Conduct Authority intervened to get nearly 20,000 financial promotions withdrawn or amended in 2024, almost double the amount compared to 2023.
People Moves: 3 – 7 February 2025
Stay in the loop with the latest personnel moves in insurance.
Macbeth makes first deal in years buying Insurance Services Surrey
Macbeth has made its first purchase in almost four years with the acquisition of Guildford-based Insurance Services Surrey, its third ever buy.
Northern Ireland tops table for account exec pay rises
Insurance account executives in Northern Ireland had the highest percentage pay rises in the UK last year, with London-based employees still having the top wage but getting the smallest rate increase, according to a survey by Reed.
Adler Fairways completes first buy of 2025
Adler Fairways has purchased Giles Insurance Consultants, based in Burnham, Buckinghamshire, its first acquisition of the year.
Lords Committee ‘unconvinced’ on FCA name and shame proposal
The House of Lords Financial Services Regulation Committee is unconvinced on the FCA’s name and shame plans as it branded the consultation an “abject failure” and urged if concerns have not been addressed in the regulator’s second consultation the…
Allianz UK reveals detected fraud up 10% to £157m
Allianz UK has confirmed it uncovered 33,027 instances of insurance fraud worth a total of £157.24m in 2024, up 10% on 2023.
UK commercial rates still falling by 5% – Marsh
UK insurance rates fell by 5% in the final quarter of last year, maintaining the speed of decline seen in Q3, according to Marsh, with financial and professional lines as well as cyber seeing the steepest declines.
Howden breaks through £3bn in revenue
Howden Group has broken through the £3bn adjusted revenue mark growing by 23% in the year ended 30 September 2024.
Pen promotes Breslin to lead new commercial arm as Webb retires
Pen Underwriting has announced a restructure following the decision by Richard Webb, MD of UK Financial Lines and Specialty Liability, to retire in June this year.
WTW delivers 8% organic growth in broking
WTW has revealed 8% organic growth in its risk and broking division for 2024 as the unit’s revenue rose to $4.04bn (£3.23bn) for the year.
New Arch UK MD bolsters regional division
Arch has made four senior promotions to new regional manager roles across the UK reporting to Mike Bottle, managing director of its UK Regional Division.
TMHCC hands Heath new distribution head remit
Tokio Marine HCC has promoted its head of delegated property Stuart Heath to the role of head of distribution – International.
Ogden completes exec team with Godwin as COO for UK & Ireland at HDI
HDI Global has appointed Geoff Godwin from AIG as chief operating officer reporting to Stephanie Ogden, CEO for UK and Ireland.